CBL & Associates Properties (CBL) Releases Earnings Results, Beats Expectations By $0.03 EPS

CBL & Associates Properties (CBL) reported quarterly earnings results on Thursday, Jul-28-2016. The company said it had a profit of $0.59 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.03. Analysts had a consensus of $0.56. The company posted revenue of $254.97 million in the period, compared to analysts expectations of $253.66 million. The company’s revenue was up .4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.54 EPS.

Many Wall Street Analysts have commented on CBL & Associates Properties. KeyBanc Capital Mkts Upgraded CBL & Associates Properties on Jul 15, 2016 to ” Overweight”, Price Target of the shares are set at $15.Shares were Reiterated by Mizuho on May 26, 2016 to “Neutral” and Lowered the Price Target to $ 10.50 from a previous price target of $12 .

CBL & Associates Properties opened for trading at $10.85 and hit $10.99 on the upside on Thursday, eventually ending the session at $10.98, with a gain of 0.92% or 0.1 points. The heightened volatility saw the trading volume jump to 42,70,675 shares. Company has a market cap of $1,875 M.

In a different news, on Nov 12, 2015, Farzana K Mitchell (CFO) purchased 825 shares at $13.30 per share price. According to the SEC, on Sep 23, 2015, Matthew Dominski (director) purchased 5,000 shares at $25.22 per share price.

CBL & Associates Properties Inc. (CBL) is a self-managed self-administered fully integrated real estate investment trust (REIT). The Company owns develops acquires leases manages and operates regional shopping malls open-air centers outlet centers associated centers community centers and office properties. Its properties are located in 27 states but are primarily in the southeastern and midwestern United States. It is the 100% owner of two qualified REIT subsidiaries CBL Holdings I Inc. and CBL Holdings II Inc. As of December 31 2014 the Company owned a controlling interest in 72 Malls and non-controlling interests in 9 Malls; a controlling interest in 25 Associated Centers and a non-controlling interest in four Associated Centers; a controlling interest in six Community Centers and a non-controlling interest in five Community Centers and a controlling interest in eight Office Buildings and a non-controlling interest in five Office Buildings.

CBL & Associates Properties

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